Mortimer Hills
Royalty-Backed Lithium Exposure in Western Australia

Overview

Zeus Resources Limited (ASX:ZEU) has divested its 100% interest in the Mortimer Hills Project (E09/2147), located in the Gascoyne region of Western Australia, to Electrostate Pty Ltd, a wholly owned subsidiary of Delta Lithium Limited (ASX:DLI).
Mortimer Hills Project (E09/2147)lies in the lithium-rich Gascoyne region of Western Australia and is located ~5km along strike from Delta Lithium’s Malinda Project. The tenement sits within the same Leake Springs Metasediment unit that hosts a combined 21.9Mt of lithium (Malinda + Jameson), representing exploration potential.

The transaction includes an upfront cash payment and a contingent structured royalty, preserving exploration upside for Zeus while transferring future expenditure obligations to Delta Lithium.

Transaction Terms

• $150,000 upfront cash consideration.
• Contingent Resource Royalty if a JORC lithium Mineral Resource (≥0.8% Li₂O at 0.5% cut-off) is delineated within four years.
• Royalty Payment Structure:
• Less than 5Mt: $0.005 per tonne.
• 5–10Mt: $0.40 per tonne for first 5Mt, then $0.005 per tonne thereafter.
• ≥10Mt: $0.50 per tonne for first 10Mt, then $0.005 per tonne thereafter.
• Delta Lithium responsible for all future exploration expenditure.